Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.64.

Several brokerages have issued reports on CRNX. JMP Securities reissued a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, January 22nd. Citigroup lifted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, TD Cowen initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the sale, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by corporate insiders.

Institutional Trading of Crinetics Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Crinetics Pharmaceuticals in the 4th quarter worth approximately $17,117,000. Mackenzie Financial Corp increased its stake in Crinetics Pharmaceuticals by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock worth $277,000 after acquiring an additional 440 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Crinetics Pharmaceuticals in the 4th quarter worth approximately $100,000. Castleark Management LLC increased its stake in Crinetics Pharmaceuticals by 6.1% in the 4th quarter. Castleark Management LLC now owns 77,780 shares of the company’s stock worth $3,977,000 after acquiring an additional 4,440 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Crinetics Pharmaceuticals by 19.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 325,276 shares of the company’s stock worth $16,631,000 after acquiring an additional 53,529 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $35.78 on Friday. The stock has a market capitalization of $3.32 billion, a PE ratio of -9.59 and a beta of 0.56. The business’s fifty day moving average is $41.53 and its 200 day moving average is $50.16. Crinetics Pharmaceuticals has a one year low of $31.84 and a one year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, sell-side analysts expect that Crinetics Pharmaceuticals will post -3.73 EPS for the current fiscal year.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.